Banks from 18 Asian Countries participated in the Awards; Multiple awards reinforce YES BANK’s strength as India’s finest bank for Cash Management & Trade Finance
Mumbai, July 9, 2015: YES BANK, India’s 5th largest private sector Bank was awarded in two prestigious categories at the Asian Banking and Finance Wholesale Banking Awards, held in Singapore:
- “Cash Management Bank of the Year”, India, ABF Wholesale Banking Awards, 2015
- “ Trade Finance Bank of the Year”, India, ABF Wholesale Banking Awards, 2015
YES BANK was declared the winner for showcasing Innovative E-Collection practices in CMS and unique Knowledge Banking approach to expand its Export Credit Business in Trade Finance. The award was given to YES BANK after a rigorous assessment by an independent panel comprising members from Deloitte, EY, KPMG and post field research by the ABF research staff. Since 2012, Asian Banking and Finance has been recognizing the most innovative projects and the best practices in Asia's wholesale banking sector. Banks from 18 Asian countries took part in the awards.
Speaking about the awards, Mr. Rana Kapoor, Managing Director & CEO, YES BANK said “YES Banker's are pleased to receive these prestigious recognitions from Asia’s foremost business magazine The Asian Banking and Finance. This award for our Cash and Trade Services Business reinforces YES BANK’s leadership position in the Transaction Banking and Digital Banking domain. We continue to offer cutting edge banking and financial solutions to our clients and are steadfastly committed to our vision of Building the Finest Quality Bank of the World in India by 2020.”
Cash Management Bank of the Year has been won on account of YES BANK’s innovative Electronic Collection Solutions for the broking segment. Using’s YES BANK’s solution , the customer moved from cash and cheque collections to electronic collections towards funds received from the traders on their platform. This solution has also facilitated timely credit, auto reconciliation and faster churn of funds, thereby helping to grow their business. This is a highly replicable model and also reduces paper based transactions.
YES BANK’s recognition as the Trade Finance Bank of the year demonstrates the Bank’s impressive and sustained progress in offering customized Trade Finance & Service solutions complimented by prudent Risk Management and regulatory compliance, best in class supply chain practices, innovative and differentiated services & solutions to our domestic customers and global banks, the most important stakeholders in this recognition.
In its endeavour to become India’s Finest Large Bank, YES BANK has embarked on a strategy to transform digitally by developing engaging products and leading channel evolution. The Bank is focusing on the creation of new best-in-class secure channels including authentication system like Public Key Infrastructure (PKI) to help carry out banking transactions which will be a key growth driver for YES BANK to have a first mover advantage over its peers. YES BANK has recently tied up with Western Union to provide direct to bank remittances in an innovative and secure manner.
YES BANK had earlier received award in the “Payments” category from The Banker, London in September 2014 followed by multiple awards in Trade Finance and Cash Management at The Asian Banker Awards, 2015 in Hong Kong.
About The Asian Banker Magazine
Asian Banking and Finance (ABF) is a leading Financial Services entity that publishes the leading Asian Banking and Finance magazines. ABF has been recognizing the most innovative projects and the best practices in Asia's wholesale banking sector since 2012. This year ABF received nominations from over 100+ Asia Pacific countries including China, Singapore, Australia, Hong Kong, India, Thailand, Vietnam, Malaysia, Philippines and Taiwan.
About YES BANK
YES BANK, India’s fifth largest private sector Bank with a pan India presence across all 29 states and 7 Union Territories of India, headquartered in the Lower Parel Innovation District (LPID) of Mumbai, is the outcome of the professional & entrepreneurial commitment of its Founder Rana Kapoor and its top management team, to establish a high quality, customer centric, service driven, private Indian Bank catering to the future businesses of India.
YES BANK has adopted international best practices, the highest standards of service quality and operational excellence, and offers comprehensive banking and financial solutions to all its valued customers.
YES BANK has a knowledge driven approach to banking, and offers a superior customer experience for its retail, corporate and emerging corporate banking clients. YES BANK is steadily evolving as the Professionals’ Bank of India with the long term mission of “Building the Best Quality Bank of the World in India” by 2020.
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